Micron Technology (Nasdaq: MU) reported earnings yesterday. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 1 (Q2), Micron Technology beat expectations on revenues and missed expectations on earnings per share.

Compared to the prior-year quarter, revenue contracted, and GAAP earnings per share contracted to a loss.

Margins dropped across the board.

Revenue details
Micron Technology chalked up revenue of $2.07 billion. The 24 analysts polled by S&P Capital IQ expected to see a top line of $2.01 billion on the same basis. GAAP reported sales were 8.4% lower than the prior-year quarter's $2.26 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at -$0.23. The 26 earnings estimates compiled by S&P Capital IQ anticipated -$0.20 per share. GAAP EPS were -$0.23 for Q2 compared to $0.07 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 13.0%, 630 basis points worse than the prior-year quarter. Operating margin was -7.2%, 1,370 basis points worse than the prior-year quarter. Net margin was -10.8%, 1,400 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $2.13 billion. On the bottom line, the average EPS estimate is -$0.13.

Next year's average estimate for revenue is $8.57 billion. The average EPS estimate is -$0.38.

Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 1,161 members rating the stock outperform and 129 members rating it underperform. Among 230 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 205 give Micron Technology a green thumbs-up, and 25 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Micron Technology is outperform, with an average price target of $9.98.

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